Trade Ideas / Game Plan
This week I’m starting out with 2 ideas on the ‘Action List’ (trades I’ve got working orders on). They include:
- PDD (6.9): https://chrt.biz/PDD/5586w95k7b/chart/
- IDXX (6.82): https://chrt.biz/IDXX/5586w960r6/chart/
There are lots of good looking trades heading in the week and I easily could have gone with any of them. I chose these 2 because they were the highest scorers on the Trade Gauntlet.
Other ideas on the radar include: AAXN, AMZN, BAND, CCS, CRWD, FCX, FVRR, GNRC, IDXX, INTU, ISRG, LAD, NUAN, PCTY, PDD, RCII, RGEN, RP, SIVB, SPOT, WSM, ZEN (If you have a TrendSpider account, you can follow them here: http://charts.trendspider.com/shared/5fb83e5517b594001546fece?t=4
The ideas I have for day trades (stocks w/ lots of momentum and little to no overhead resistance) are here: http://charts.trendspider.com/shared/5fd54420651895001585259b?t=2 APPS, ASML, BL, CDNS, CHWY, CMG, CYBR, ETSY, FIVN, FND, JOE, MELI, NIO, PANW, RNG, ROKU, SHOP, SNAP, STNE, TSLA
CURRENT HOLDINGS: NUAN, SEDG, PYPL, BTCUSD, SHOP, DKNG, ZS, CVNA, FVRR http://charts.trendspider.com/shared/5fdcd7166518950015852636?t=1
The market’s engine is revving with plenty of gas in the tank! All the major indexes are in uptrends across time frames (well, with the exception of the Dow which is sideways on the daily timeframe… close enough). When this happens you’d expect to find few decent looking setups. That was the case last week… Well, this time around its different! We came across 22 solid looking setups to keep on the radar. Many actionable ideas. And 2 that I’m placing orders for as soon as I’m done writing this (PDD and IDXX) It’s amazing how quickly mood and sentiment can shift isn’t it? This time last week I was calling this a ‘hard penny’ market. Then by the end of the week I had doubled the number of positions in my account. Incredible! I posted updates on each trade I took as we went in the Trader’s Mindchat Room.
You can get alerts sent to you from the room as well! If you’re not already in there, sign up! It’s part of your MARA Elite Membership!
OVERALL DIRECTION: UUU (Uptrend on monthly and weekly timeframes, and sideways on daily time frames)
NEW HIGHS vs NEW LOWS: The number of stocks hitting new highs are picking up. Checkout the daily charts of the indexes. On Friday, there were 175 stocks hitting new highs. It’s encouraging that more and more stocks are participating in the rally.
DAILY CHARTS (indexes): https://www.tradingview.com/x/VdjlT31H/?aff_id=15325&offer_id=10
WEEKLY CHARTS (indexes): https://www.tradingview.com/x/kDFfGSSH/?aff_id=15325&offer_id=10
MONTHLY CHARTS (indexes): https://www.tradingview.com/x/YjLGdlUd/?aff_id=15325&offer_id=10
Deep Dive Video
- Mara Trader ‘Weekend Assessment’ Sheet
- Trade Emotionator (free position size calculator)
- TrendSpider (charts)
- EdgeWonk (trading journal)
- Options Geek (options EDU + new options chain)
- TradingView (charts)
- Favorite Trading Books
- Market Smith